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Consolidated Statements Of Income (Loss) And Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING REVENUES    
Earned premiums $ 1,203,977 $ 1,151,021
Net investment income 114,182 108,016
Net realized investment gains (losses) 681 (946)
Change in fair value of equity securities 611,510 (122,052)
Net investment gains (losses) 612,191 (122,998)
Products Revenues 348,794 294,136
Services and other revenues 193,344 145,296
Total Operating Revenues 2,472,488 1,575,471
OPERATING EXPENSES    
Losses and loss adjustment expenses 687,746 615,118
Underwriting, acquisition and insurance expenses 455,212 424,390
Products expenses 319,426 269,697
Services and other expenses 174,606 132,433
Amortization of intangible assets 40,668 [1] 28,823 [2]
Total Operating Expenses 1,677,658 1,470,461
Operating Income 794,830 105,010
Interest expense 40,290 40,059
Net foreign exchange losses 21,864 22,114
Income (Loss) Before Income Taxes 732,676 42,837
Income tax expense 155,163 108,431
Net Income (Loss) 577,513 (65,594)
Net income (loss) attributable to noncontrolling interests 1,086 (1,288)
Net Income (Loss) to Shareholders 576,427 (64,306)
OTHER COMPREHENSIVE INCOME (LOSS)    
Net holding gains (losses) arising during the period 152,331 (116,922)
Reclassification adjustments for net gains (losses) included in net income (loss) (246) 814
Change in net unrealized gains on available-for-sale investments, net of taxes 152,085 (116,108)
Change in foreign currency translation adjustments, net of taxes 2,377 4,953
Change in net actuarial pension loss, net of taxes 1,361 664
Total Other Comprehensive Income (Loss) 155,823 (110,491)
Comprehensive Income (Loss) 733,336 (176,085)
Comprehensive income (loss) attributable to noncontrolling interests 1,091 (1,246)
Comprehensive Income (Loss) to Shareholders $ 732,245 $ (174,839)
NET INCOME (LOSS) PER SHARE    
Basic (in dollars per share) $ 42.81 $ (4.25)
Diluted (in dollars per share) [3] $ 42.76 $ (4.25)
[1] Segment profit for the Markel Ventures segment includes amortization of intangible assets attributable to Markel Ventures. Amortization of intangible assets is not allocated to any other reportable segments.
[2] Segment profit for the Markel Ventures segment includes amortization of intangible assets attributable to Markel Ventures. Amortization of intangible assets is not allocated to any other reportable segments.
[3] The impact of restricted stock units and restricted stock of 27 thousand shares was excluded from the computation of diluted earnings per share for the three months ended March 31, 2018 because the effect would have been anti-dilutive.